Fixed Deposit (Bank FD) is a popular investment tool for Indians. Risk-averse investors prefer investing large amounts in FDs because they offer no risk to the principal amount and provide guaranteed returns. Banks frequently launch new FD schemes to attract customers. One such scheme is the “SBI Amrit Vrishti FD,” which was launched this year. The bank is offering 7.25% annual interest to general customers on this 444-day FD. Senior citizens are offered 7.75% annual interest.
What makes this FD even more appealing is the convenience it offers. You can invest in the SBI Amrit Vrishti FD from the comfort of your home. There is no need to visit the bank branch, as you can invest through net banking or the SBI YONO app. However, you also have the option to invest by visiting the bank. This special FD is available for investment until March 31, 2025.
SBI FD Interest Rates and Tenures
State Bank of India offers Fixed Deposits (FDs) of various tenures to its customers, ranging from 7 days to 10 years. The interest rates vary based on the tenure. For FDs with tenures from 7 to 45 days, SBI offers interest rates between 3.50% and 4.00%. On FDs with tenures from 46 to 179 days, the interest rate is between 5.50% and 6.00%. For FDs with tenures from 180 to 210 days, the interest rates range from 6.25% to 6.75%, and for FDs with tenures from 211 days to less than a year, the interest rate is between 6.50% and 7.00%.
For FDs with a tenure of 1 year to less than 2 years, SBI offers interest between 6.80% and 7.30%. The interest rate is between 7.00% and 7.50% for FDs with a tenure of 2 to less than 3 years. For FDs with a tenure of 3 to less than 5 years, the interest rate is between 6.75% and 7.25%. FDs with a tenure of 5 to 10 years offer an interest rate between 6.50% and 7.50%.
About SBI Amrit Kalash Scheme
State Bank of India (SBI) is also running a special fixed deposit (FD) scheme called Amrit Kalash. Under this scheme, senior citizens are offered an annual interest of 7.60%, while general customers are given 7.10%. The investment tenure for this FD scheme is 400 days.